Bandhan Multi Asset Allocation Fund vs Bandhan Multi Cap Fund
Direct Plan, Growth option · Data as on 29-10-2026
Bandhan Multi Asset Allocation Fund is a Multi Asset fund and Bandhan Multi Cap Fund is a Multi Cap fund. In the year to 30-10-2026, Bandhan Multi Asset Allocation Fund (Direct) returned 5.0% and Bandhan Multi Cap Fund (Direct) returned −4.8%. Bandhan Multi Asset Allocation Fund charges 0.84% a year and Bandhan Multi Cap Fund 0.95% (Direct plans). Their portfolios overlap 48.9%: they hold 78 of the same securities.
Bandhan Multi Asset Allocation Fund
Multi Asset
- 1 year return
- 5.0%
- Expense ratio
- 0.84%
- NAV
- ₹14.14
Bandhan Multi Cap Fund
Multi Cap
- 1 year return
- −4.8%
- Expense ratio
- 0.95%
- NAV
- ₹17.74
Which is better, Bandhan Multi Asset Allocation or Bandhan Multi Cap? Key differences
It depends on what you want from the fund. These are the differences in numbers, from the data on this page.
- Bandhan Multi Asset Allocation returned more over 1 year: 5.0% against −4.8%.
- Bandhan Multi Asset Allocation costs less: 0.84% a year against 0.95% (Direct plans).
- Bandhan Multi Asset Allocation fell less in its worst fall since 01-02-2024: −10.0% against −18.3%.
- Bandhan Multi Asset Allocation is the larger fund: ₹3,745 Cr against ₹3,074 Cr.
- Their portfolios overlap 48.9%: 78 of the same holdings.
Past returns do not promise future returns. This page is information, not investment advice.
Key facts
From each fund's scheme summary document and AMFI
| Fact | Bandhan Multi Asset Allocation Fund | Bandhan Multi Cap Fund |
|---|---|---|
| Fund house | Bandhan Mutual Fund | Bandhan Mutual Fund |
| Category | Multi Asset | Multi Cap |
| AUM | ₹3,745 Cr (31-08-2026) | ₹3,074 Cr (31-08-2026) |
| NAV | ₹14.14 (Direct) | ₹17.74 (Direct) |
| Expense ratio (Direct) | 0.84% | 0.95% |
| Expense ratio (Regular) | 2.16% | 2.27% |
| Riskometer | Very High | Very High |
| Benchmark | 65% Nifty 500 TRI + 25% NIFTY Short Duration Debt Index + 5% Domestic prices of gold + 5% Domestic prices of silver | NIFTY 500 Multicap 50:25:25 Total Return Index |
| Launch date | 31-01-2024 | 02-12-2021 |
| Minimum investment | ₹1,000 | ₹1,000 |
| Lock in | None | None |
| Fund managers | Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Brijesh Shah, Ritika Behera, Gaurav Satra | Daylynn Pinto, Harshal Joshi |
| Exit load | Exit Load for units in excess of 10% of the investment,0.5% will be charged for redemption within 1 year. | Exit load of 1% if redeemed wtihin 1 year. |
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: Returns Comparison
Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.
| Fund | 1M | 3M | 6M | 1Y | 3Y | 5Y | 10Y |
|---|---|---|---|---|---|---|---|
| Bandhan Multi Asset Allocation Fund (Direct) | −2.01% | −3.66% | −1.20% | +5.01% | -- | -- | -- |
| Bandhan Multi Cap Fund (Direct) | −1.86% | −6.28% | −1.26% | −4.75% | +12.01% | -- | -- |
| Multi Asset average | −1.71% | −3.33% | −1.78% | +2.00% | -- | -- | -- |
| Multi Cap average | −2.65% | −3.95% | +1.99% | −1.14% | +13.54% | -- | -- |
Category average: the average of the 37 Multi Asset funds and the 33 Multi Cap funds, same plan type.
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: Year-wise Returns
| Year | Asset AllocationBandhan Multi Asset Allocation | CapBandhan Multi Cap |
|---|---|---|
| 2026to date | +0.67% | −4.97% |
| 2025 | +20.98% | +6.46% |
| 2024 | -- | +21.25% |
| 2023 | -- | +31.66% |
| 2022 | -- | +8.66% |
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: Rolling Returns
Every holding period of both funds, against Nifty500 Multicap 50:25:25 TRI, the benchmark of Bandhan Multi Cap Fund
Rolling returns
Every 1-year holding period, 435 of them, one for each trading day from 03-02-2025 to 29-10-2026: the yearly return (CAGR) of each, plotted on the day it ended. One lucky or unlucky start day cannot flatter or hide a fund.
Bandhan Multi Asset Allocation Fund (Direct)
Bandhan Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
to
Mar 2025Jul 2024
to
Jul 2025Oct 2024
to
Oct 2025Feb 2025
to
Feb 2026May 2025
to
May 2026Sept 2025
to
Sept 2026
How the periods spread
| Fund | Below 0% | 0-5% | 5-10% | 10-15% | 15-20% | 20-25% | Above 25% | Mean | Median | Lowest | Highest | Beat benchmark |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Bandhan Multi Asset Allocation | 0.0 | 0.2 | 13.8 | 40.0 | 26.2 | 14.5 | 5.3 | 15.2% | 14.4% | 4.8% | 28.8% | 100% |
| Bandhan Multi Cap | 18.0 | 35.9 | 35.7 | 9.0 | 1.4 | 0.0 | 0.0 | 4.5% | 4.5% | −5.6% | 17.0% | 82% |
| Nifty500 Multicap 50:25:25 TRI | 23.0 | 37.9 | 32.0 | 5.5 | 1.6 | 0.0 | 0.0 | 3.7% | 3.7% | −7.6% | 18.0% | -- |
The table shows the % of periods in each return band; a darker cell holds more of them. Lumpsum: the yearly rate (CAGR) from a period's first NAV to its last. SIP: the XIRR of the monthly instalments. The benchmark is Nifty500 Multicap 50:25:25 TRI, over the same periods. "Beat benchmark" counts the periods in which the fund did better. Every fund is measured over the days all of them have, from 01-02-2024. Past returns do not promise future returns.
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: SIP and Lumpsum Returns
What the same monthly or one-time investment would be worth in each fund today, from their own NAV history
Growth of an investment
₹10,000 on the first trading day of every month, from 01-02-2024 to 29-10-2026: 33 instalments, ₹3,30,000 in all.
| Investment | Invested | Value now | Gain | Return a year |
|---|---|---|---|---|
| Bandhan Multi Asset AllocationBandhan Multi Asset Allocation Fund (Direct) | ₹3,30,000 | ₹3,76,684 | ₹46,684 | 9.6% |
| Bandhan Multi CapBandhan Multi Cap Fund (Direct) | ₹3,30,000 | ₹3,35,740 | ₹5,740 | 1.2% |
Bandhan Multi Asset AllocationBandhan Multi Asset Allocation Fund (Direct)
Bandhan Multi CapBandhan Multi Cap Fund (Direct)
Amount invested
From each plan's published NAV (Growth option), over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: Risk and Drawdowns
How much each fund swings, and the worst fall over the same days
Risk and return
| Measure | Bandhan Multi Asset Allocation Fund (Direct) | Bandhan Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +5.01% | −4.75% |
| Standard deviation | 10.55% | 13.79% |
| Sharpe ratio | -0.02 | -0.72 |
| Sortino ratio | -0.03 | -0.97 |
| Maximum drawdown | −10.0% (23-03-2026) | −14.6% (30-03-2026) |
| Beta | -- | 0.90 |
| Alpha | -- | +0.19% |
From daily NAVs, 29-10-2025 to 29-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
| Measure | Bandhan Multi Asset Allocation Fund (Direct) | Bandhan Multi Cap Fund (Direct) |
|---|---|---|
| Return (CAGR) | +13.42% | +12.37% |
| Standard deviation | 9.15% | 13.20% |
| Sharpe ratio | 0.82 | 0.49 |
| Sortino ratio | 1.13 | 0.67 |
| Maximum drawdown | −10.0% (23-03-2026) | −18.3% (03-03-2025) |
| Beta | -- | 0.85 |
| Alpha | -- | +2.26% |
From daily NAVs, 01-02-2024 to 29-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta and alpha compare each fund with its own benchmark's TRI.
Drawdowns
How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.
Bandhan Multi Asset Allocation Fund (Direct)
Bandhan Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
| Fund | Worst fall | High before it | Bottom | Back at the high | Time to climb back | Below its high today |
|---|---|---|---|---|---|---|
| Bandhan Multi Asset Allocation Fund (Direct) | −10.0% | 29-01-2026 | 23-03-2026 | 03-07-2026 | 3 months | −6.2% |
| Bandhan Multi Cap Fund (Direct) | −18.3% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −7.7% |
| Nifty500 Multicap 50:25:25 TRI | −19.8% | 26-09-2024 | 03-03-2025 | 03-08-2026 | 17 months | −8.0% |
From daily values since 01-02-2024, the first day every fund has.
Rolling standard deviation
Whether the swings have grown or calmed over time: the standard deviation of daily changes over every 1-year window, scaled to a year, plotted on the window's last day. Higher means a bumpier ride.
Bandhan Multi Asset Allocation Fund (Direct)
Bandhan Multi Cap Fund (Direct)
Nifty500 Multicap 50:25:25 TRI
Against Nifty500 Multicap 50:25:25 TRI
| Fund | Up capture | Down capture | Tracking error |
|---|---|---|---|
| Bandhan Multi Asset Allocation Fund (Direct) | 72% | 25% | 9.40% |
| Bandhan Multi Cap Fund (Direct) | 95% | 88% | 2.47% |
From month-end values since 01-02-2024. Up capture: a fund's average month when the benchmark rose, as % of the benchmark's; above 100% it gained more. Down capture: the same for months the benchmark fell; below 100% it fell less. Tracking error: how far the monthly returns strayed from the benchmark's, a year; an index fund aims near 0.
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: Portfolio Overlap
From each fund's latest monthly portfolio: Bandhan Multi Asset Allocation Fund, August 2026; Bandhan Multi Cap Fund, August 2026
Holdings in common
- Overlap
- 48.9%
- Held by both
- 78
- Only in Bandhan Multi Asset Allocation
- 60
- Only in Bandhan Multi Cap
- 30
| Security | % of Bandhan Multi Asset Allocation | % of Bandhan Multi Cap |
|---|---|---|
| HDFC Bank Limited | 4.20% | 5.88% |
| Reliance Industries Limited | 3.76% | 3.95% |
| ICICI Bank Limited | 3.02% | 3.31% |
| Kotak Mahindra Bank Limited | 2.33% | 3.96% |
| Axis Bank Limited | 2.25% | 2.11% |
| Maruti Suzuki India Limited | 2.10% | 1.85% |
| Bharti Airtel Limited | 1.80% | 1.47% |
| Larsen & Toubro Limited | 1.47% | 1.51% |
| Infosys Limited | 1.21% | 2.03% |
| ITC Limited | 1.03% | 1.41% |
| Bajaj Finserv Limited | 1.24% | 0.99% |
| Tata Consultancy Services Limited | 0.96% | 2.73% |
| Sterlite Technologies Limited | 0.83% | 1.48% |
| NTPC Limited | 0.75% | 0.75% |
| Hero MotoCorp Limited | 0.73% | 0.89% |
| Eternal Limited | 0.72% | 1.07% |
| Poonawalla Fincorp Limited | 0.68% | 1.51% |
| Info Edge (India) Limited | 0.67% | 0.75% |
| Titan Company Limited | 0.68% | 0.66% |
| ICICI Lombard General Insurance Company Limited | 0.63% | 1.53% |
| ICICI Prudential Life Insurance Company Limited | 0.62% | 0.67% |
| PB Fintech Limited | 0.60% | 0.61% |
| HDFC Life Insurance Company Limited | 0.58% | 1.24% |
| GlaxoSmithKline Pharmaceuticals Limited | 0.57% | 1.19% |
| Life Insurance Corporation Of India | 0.56% | 0.95% |
| Oil India Limited | 0.55% | 1.10% |
| Swiggy Limited | 0.53% | 0.83% |
| Emami Limited | 0.53% | 0.86% |
| Dabur India Limited | 0.51% | 0.93% |
| Shree Cement Limited | 0.50% | 0.64% |
| V-Mart Retail Limited | 0.50% | 1.52% |
| Cipla Limited | 0.82% | 0.46% |
| Aurobindo Pharma Limited | 0.46% | 1.12% |
| Sun Pharmaceutical Industries Limited | 0.45% | 0.81% |
| AWL Agri Business Limited | 0.44% | 1.06% |
| Dr. Reddy's Laboratories Limited | 0.42% | 1.13% |
| Jindal Steel Limited | 0.41% | 0.89% |
| Finolex Industries Limited | 0.37% | 0.77% |
| Cholamandalam Financial Holdings Limited | 0.81% | 0.36% |
| Avenue Supermarts Limited | 0.36% | 1.14% |
| UTI Asset Management Company Limited | 0.47% | 0.35% |
| NHPC Limited | 0.35% | 0.87% |
| Havells India Limited | 0.33% | 0.65% |
| Mas Financial Services Limited | 0.33% | 0.84% |
| Aptus Value Housing Finance India Limited | 0.33% | 0.58% |
| Petronet LNG Limited | 0.32% | 0.81% |
| Syngene International Limited | 0.32% | 0.36% |
| Bayer Cropscience Limited | 0.32% | 0.84% |
| Dalmia Bharat Limited | 0.31% | 0.51% |
| Greenply Industries Limited | 0.31% | 0.85% |
| United Breweries Limited | 0.31% | 0.74% |
| Cera Sanitaryware Limited | 0.31% | 0.37% |
| RHI Magnesita India Limited | 0.30% | 0.76% |
| Vedanta Aluminium Metal Limited | 0.32% | 0.28% |
| Tube Investments of India Limited | 0.30% | 0.27% |
| Oil & Natural Gas Corporation Limited | 0.25% | 0.45% |
| KEC International Limited | 0.24% | 0.41% |
| Mahindra Lifespace Developers Limited | 0.24% | 0.83% |
| Varun Beverages Limited | 0.43% | 0.23% |
| Mahanagar Gas Limited | 0.23% | 0.35% |
| Max Financial Services Limited | 0.23% | 0.77% |
| JK Lakshmi Cement Limited | 0.23% | 0.26% |
| Dhanuka Agritech Limited | 0.22% | 0.31% |
| Dr. Lal Path Labs Limited | 0.21% | 0.25% |
| Whirlpool of India Limited | 0.21% | 0.52% |
| Ajanta Pharma Limited | 0.35% | 0.20% |
| Trent Limited | 0.19% | 0.42% |
| Shriram Finance Limited | 0.39% | 0.18% |
| MRF Limited | 0.18% | 0.96% |
| TeamLease Services Limited | 0.18% | 0.84% |
| Container Corporation of India Limited | 0.17% | 0.29% |
| Aditya Birla Fashion and Retail Limited | 0.17% | 0.22% |
| Orchid Pharma Limited | 0.16% | 0.32% |
| Automotive Axles Limited | 0.16% | 0.48% |
| United Spirits Limited | 0.16% | 0.82% |
| Crompton Greaves Consumer Electricals Limited | 0.13% | 0.65% |
| Coromandel International Limited | 0.10% | 0.37% |
| DLF Limited | 0.05% | 0.34% |
Overlap: for each holding both funds own, the smaller of its two weights, added up. 48.9% means 48.9% of each fund's money sits in positions the other also holds. Matched by ISIN. Cash and hedged positions are left out.
Largest holdings only in Bandhan Multi Asset Allocation Fund
| Security | % of fund |
|---|---|
| ICICI Prudential Gold ETF | 6.68% |
| ICICI Prudential Silver ETF | 4.46% |
| Bandhan Silver ETF | 2.27% |
| Bandhan Ultra Short to Short Term Fund-DR GR | 2.02% |
| 7.53% National Bank For Agriculture and Rural Development | 2.00% |
Largest holdings only in Bandhan Multi Cap Fund
| Security | % of fund |
|---|---|
| Mahindra & Mahindra Financial Services Limited | 1.82% |
| IDFC First Bank Limited | 1.40% |
| Honeywell Automation India Limited | 1.04% |
| Graphite India Limited | 1.03% |
| Hindustan Unilever Limited | 0.96% |
Asset and sector split
Share of each fund, from its latest monthly portfolio
Asset allocation
| Asset | Bandhan Multi Asset Allocation | Bandhan Multi Cap |
|---|---|---|
| Equity | 66.3% | 96.0% |
| Debt | 6.3% | 0.0% |
| Cash and others | 27.4% | 4.0% |
Market cap of stocks
| Market cap | Bandhan Multi Asset Allocation | Bandhan Multi Cap |
|---|---|---|
| Large Cap | 39.6% | 43.8% |
| Mid Cap | 13.8% | 26.2% |
| Small Cap | 12.9% | 26.1% |
Share of the whole fund. Groups follow AMFI's latest list: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.
Largest sectors
| Sector | Bandhan Multi Asset Allocation | Bandhan Multi Cap |
|---|---|---|
| Banks | 13.5% | 18.0% |
| Pharmaceuticals & Biotechnology | 3.7% | 7.5% |
| Finance | 6.6% | 6.5% |
| Retailing | 3.4% | 6.0% |
| Insurance | 2.7% | 5.2% |
| IT - Software | 2.2% | 5.0% |
| Automobiles | 4.5% | 2.7% |
| Petroleum Products | 3.8% | 4.0% |
The six largest sectors of each fund's stocks, % of the fund.
Bandhan Multi Asset Allocation vs Bandhan Multi Cap: Expense Ratio
What each plan charges a year, from AMFI's expense ratio file
| Charge | Bandhan Multi Asset Allocation Fund | Bandhan Multi Cap Fund |
|---|---|---|
| Total expense ratio (Direct) | 0.84% | 0.95% |
| Base expense ratio (Direct) | 0.44% | 0.54% |
| Total expense ratio (Regular) | 2.16% | 2.27% |
| Base expense ratio (Regular) | 1.57% | 1.68% |
The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, transaction costs, and levies with GST.
More comparisons
Each fund against the others of its category
Compare Bandhan Multi Asset Allocation with
- Bandhan Multi Asset Allocation vs Quant Multi Asset Allocation
- Bandhan Multi Asset Allocation vs Nippon India Multi Asset Allocation
- Bandhan Multi Asset Allocation vs DSP Multi Asset Allocation
- Bandhan Multi Asset Allocation vs Kotak Multi Asset Allocation
- Bandhan Multi Asset Allocation vs WhiteOak Capital Multi Asset Allocation
Bandhan Multi Asset Allocation Fund vs Bandhan Multi Cap Fund: Frequently Asked Questions
What is the difference between Bandhan Multi Asset Allocation Fund and Bandhan Multi Cap Fund?
Bandhan Multi Asset Allocation Fund is a Multi Asset fund, Bandhan Multi Cap Fund is a Multi Cap fund, run by Bandhan Mutual Fund. Their portfolios overlap 48.9%. Bandhan Multi Asset Allocation Fund charges 0.84% a year and Bandhan Multi Cap Fund 0.95%.
Which has given higher returns, Bandhan Multi Asset Allocation Fund or Bandhan Multi Cap Fund?
Over 1 year: Bandhan Multi Asset Allocation Fund +5.01%, Bandhan Multi Cap Fund −4.75%. As on 30-10-2026. Past returns do not promise future returns.
Which has the lower expense ratio, Bandhan Multi Asset Allocation Fund or Bandhan Multi Cap Fund?
Bandhan Multi Asset Allocation Fund charges less: 0.84% a year against 0.95%. These are the Direct plans' total expense ratios reported to AMFI.
How much do Bandhan Multi Asset Allocation Fund and Bandhan Multi Cap Fund overlap?
48.9%. They hold 78 of the same securities, the largest shared ones being HDFCBANK, RELIANCE, ICICIBANK. From each fund's latest monthly portfolio.
Which is riskier, Bandhan Multi Asset Allocation Fund or Bandhan Multi Cap Fund?
On SEBI's riskometer, Bandhan Multi Asset Allocation Fund is rated Very High and Bandhan Multi Cap Fund Very High. Over 1 years, the standard deviation of daily returns was 10.55% and 13.79% a year.
Can I invest in both Bandhan Multi Asset Allocation Fund and Bandhan Multi Cap Fund?
Yes. 48.9% of each fund's money sits in the same holdings, so a large part of the two investments would move together.
Who manages Bandhan Multi Asset Allocation Fund and Bandhan Multi Cap Fund?
Bandhan Multi Asset Allocation Fund: Viraj Kulkarni, Daylynn Pinto, Kapil Kankonkar, Gautam Kaul, Brijesh Shah, Ritika Behera, Gaurav Satra. Bandhan Multi Cap Fund: Daylynn Pinto, Harshal Joshi.
Sources: NAV and expense ratio from AMFI. Holdings from each fund house's monthly portfolio statement. Fund facts from each scheme summary document.
This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.